April 23, 2005: Palladium Capital Advisors (“Palladium”) is proud to announce that Grant Wood and Ernest Voigt have joined the Palladium team. Both Mr. Voigt and Mr. Wood have full careers worth of financial experience and significantly enhance the depth and reach of Palladium´s sales and distribution network.

Grant Wood will serve as Senior Vice President of Palladium, focused primarily on developing relationships with financial institutions. Mr. Wood brings 40 years of senior-level managerial and financial experience to the firm. He started in the mutual fund industry in the 1960’s before joining EF Hutton and later Lehman Brothers as Vice President of institutional sales in 1975. In 1980, he became Chairman of the Board of Cliffwood Energy, a private oil and gas exploration company, and then joined Trust Company of the West in 1986 as a managing director. In 1990, he became a managing director of multi-billion dollar merchant bank Furman Selz Capital Management and participated in its sale to ING. In 2003 he left to join Forward Management, before joining Palladium in 2005.

Ernest C. Voigt will serve as Senior Vice President, focused on developing relationships with pension funds. Mr. Voigt joins Palladium Capital Advisors, LLC with more than 35 years of experience in the finance industry. Mr. Voigt, a Registered Investment Advisor, established the Orinda Pacific Investment Company Inc. in 1989, where he has spent the past 16 years advising large pension funds in finding top asset managers. Prior to Orinda Pacific, in 1973, Mr. Voigt co-founded Robert C. Brown & Company, a fixed income asset manager which had several billion dollars under management in 1989 when he took the company public and sold it. Mr. Voigt began his career in 1968 as a broker at Schwabacher and Company, and where he was made partner in 1970.